A British company plans to buy Tampa-based engineering company PBSJ Corp. in a transaction worth $280 million.
On Monday, PSBJ announced it would be acquired by WS Atkins plc for about $17.14 per stock share. PBSJ will become a U.S. subsidiary of Atkins under the direction of PBSJ Chief Executive Officer Robert Paulsen.
PBSJ is owned by its 3,500 employees, and its shareholders still must approve the deal. The company has been plagued by legal troubles in recent years. Late last year, PBSJ announced that it was investigating potential violations of the Foreign Corrupt Practices Act by its international subsidiary.
It didn't comment on the specific allegations, but the act generally involves cases of bribery. PBSJ also had to repay millions of dollars to Florida and the federal government after overbilling government agencies.
Atkins touts itself as the world's 11th-largest design company.
One of the leading engineering companies in the state, PBS&J does engineering and construction management work for government agencies, often departments of transportation.
The company was the designer of the town of Miami Lakes and did design work on the Interstate 4-Selmon Crosstown Expressway project, which will connect the two highways near Ybor City.
The company moved to Tampa from Miami in 2007.
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